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Making Cost Accounting Data Work for Public Financial Management

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  • Lorena Rivero del Paso
  • Chloe Cho
  • Ramon Narvaez Terron

Abstract

This paper examines the role of cost accounting in public financial management, focusing on budget credibility, performance-based budgeting, public procurement, and corruption detection. Despite demonstrated benefits, cost accounting remains underutilized in the public sector due to implementation constraints. The working paper proposes the adoption of automated cost accounting systems to streamline processes, reduce operational costs, and support complex data analyses. It further emphasizes the need for interoperability between government financial systems and administrative records to enhance the granularity of costing indicators. The paper also explores machine learning as a method to support budgetary decision-making with cost accounting data.

Suggested Citation

  • Lorena Rivero del Paso & Chloe Cho & Ramon Narvaez Terron, 2025. "Making Cost Accounting Data Work for Public Financial Management," IMF Working Papers 2025/159, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2025/159
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